RICHMOND, Va. — Homebuilder William Romm III was given a two-and-a-half-year federal prison sentence on Thursday for defrauding the bankruptcy system, marking the second time in the last week that someone from the local real estate community has been convicted of a financial crime.
In Romm’s case, his punishment stems from his concealing hundreds of thousands of dollars from the trustee during his personal bankruptcy proceedings and spending money that should have gone to creditors on personal items such as two boats. Click here to continue reading on Richmond BizSense.
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